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Marketing is All Around Us Marketing is All Around Us - Ch.1 What is Marketing? The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants. Marketing is All Around Us - Ch.1 Marketing is. . . Products – Goods and services. Goods – Material items you can touch. Services – A series of tasks performed for a customer. Marketing is All Around Us - Ch.1 Marketing ... Connecting businesses to their customers. Marketing provides the means for the exchange process. – An exchange takes place every time something is sold in the marketplace. Marketing is All Around Us - Ch.1 In what ways does marketing affect you every day? Marketing is All Around Us - Ch.1 Functions of Marketing Marketing Information Management – Gathering, recording, analyzing and disseminating information to aid in making marketing decisions. Marketing is All Around Us - Ch.1 It is a process. It involves. . . Pricing Items must be priced so that consumers want to buy them. Price indicates quality and/or value to consumers. Price must be set to enable businesses to make a profit, but still be able to compete with others. Marketing is All Around Us - Ch.1 What is Marketed? Durable Goods - desks, computers, houses Nondurable Goods - food, cosmetics, gasoline Services - banking, health care, job placement People - Athletes, Musicians, Political Candidates Places - Honeymoon locations, vacations Organizations - NCAA, Labor unions, Art museums Ideas - “Pitch in”, “Buckle up for Safety” Marketing is All Around Us - Ch.1 Why study marketing? . . . to understand business . . . to learn interpersonal skills . . . to perfect communication skills. Marketing is All Around Us - Ch.1